New Zealand has a strong economy, supported by high productivity and good employment. The economy has maintained constant growth by introducing measures and policies that favor liberalization, privatization and deregulation. New Zealand is a developed economy and is part of the OECD which includes the most developed countries in the world. He introduced best practices in building a strong economy. Being a mixed economy, based on free market principles, it has supported GDP growth. Sectoral Contribution to the EconomyThe country's economy has strengthened by developing high production of agricultural products such as kiwis, which the country largely exports to the world. New Zealand has become the second largest exporter of dairy products. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an original essayTourism and fishing are two other areas that add value to economic growth. 7% of the workforce is engaged in agriculture, which mainly includes fishing and livestock. 19% of the workforce is employed in mainly mining, energy production and some manufacturing activities. The largest share, at 74%, of workforce engagement is in the service sector such as finance, communication and government activities. Graph 1.0 illustrates the performance of the three sectors. The main financial capital market is the New Zealand Market (NZX). New Zealand is currently giving a lot of boost to the tourism industry. New Zealand is rich in natural resources and uses the best technological and cutting-edge processes for mining, renewable energy generation and the oil industry. The largest employer in New Zealand is the private sector followed by central government. Gross Domestic Product (GDP) Gross Domestic Product (GDP) is the official measure of economic growth. Both the production and expenditure approaches are used to calculate GDP. The production approach measures the value of goods and services produced in New Zealand after deducting the cost of goods and services used in the production process. The expenditure approach measures the final purchase of goods and services produced in the country. Exports are added to the same and imports are subtracted from the same during the calculation. GDP is calculated on a quarterly basis and in the current quarter the economy grew by 1%(b). Data from the latest quarter reveal that investment spending fell by 0.1%. GDP per capita increased by 0.5%. Primary Industries The country's GDP has witnessed ups and downs over the past two decades, but has maintained steady growth since the 2008 global financial meltdown. The government is making continuous efforts to reduce unemployment rates and create equal opportunities for the Work. It is also attracting skilled workforce from many countries by opening doors to immigration. This directly influences labor utilization, population participation rate and, consequently, GDP growth. According to Statistics New Zealand (a) data for May 2018, the employment rate increased by 0.6%. The country is making tremendous progress in the goods manufacturing sector. Hydroelectric generation contributed to increased domestic power with an increase of 3.7%. New Zealand's gross national disposable income has increased over the years. The Treasury plays an important role in the New Zealand economy by providing forecasts of GDP, consumer prices, employment and unemployment, as well as the country's current account position..